PETALING JAYA: The investment of Saudi Arabia’s Aramco in the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, is positive for Petroliam Nasional Bhd (Petronas) and the project itself.
According to analysts, the US$7bil (RM31.1bil) investment by the Saudi national oil company for a 50% stake in the refinery and cracker assets within the Pengerang Integrated Complex could help relief the financial pressure on Petronas and help the progress of the project.
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